National Supply's shareholders' equity included the following accounts at December 31, 2020 Shareholders' Equity Corrmon stock, 5 million shares at $1 par Paid-in capital-excess of par Retained earnings $ 5,000,000 30,000,000 98,500,000 Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares Prepare the entries for each of the transactions under each of two separate assumptions the shares are a retired and (b) accounted for as treasury stock February 15, 2021 February 17, 2022 November 9, 2023 Reacquired 480,000 shares at 39 per share. Reacquired 480,000 shares at $6.50 per share. Sold 335, shares at 38 per share (assume FIFO cost). 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31 2023, assuming the shares are (a) retired and (b) accounted for as treasury stock Net Income was $20 million in 2021 $22 million in 2022, and $24 million in 2023 No dividends were paid during the three-year period Complete this question by entering your answers in the tabs below. Reg 1 Retired Reg 1 Treasury Stod Reg 2 Prepare the entry for each of the transactions given in the regurement above Astuma share are related to try is mured for a Tractor/avent select "No journal entry required in the first account field View transaction list 9X 1 Pecord the purchase of share on February 15, 2021 for retirement Required: 1. National Supply reacquired shares of its common stock in two separate trans each of the transactions under each of two separate assumptions the shares a February 15, 2021 February 17 2022 November 2023 Reacquired 480,000 shares at 39 per share. Reacquired 480,000 shares at $6.50 per share. Sold 335,000 shares at 38 per share assume FIFO CO: 2. Prepare the shareholders equity section of National Supply's balance shee retired and (b) accounted for as treasury stock Net income was $20 million in dividends were paid during the three-year period Complete this question by entering your answers in the tabs below. Reg 1 Retired Reg 1 Treasury Stock Reg 2 Prepare the entry for each of the transactions given in the requirement above, transaction event, select "No joumal entry required in the first account field. View transaction list X: Record the purchase of shares on February 15, 2021 for retirement 12 Record the purchase of shares on February 17, 2022 for retirement 3 Record the sale of shares on November 9, 2023. February 15, 2021 February 17 2022 November 9, 2023 Reacquired 480,000 shares at 19 per share. Reacquired 480,000 shares at $6.50 per share. Sold 335,000 shares at $8 per share (assume FIFO cos 2. Prepare the shareholders equity section of National Supply's balance sheet reured and (b) accounted for as treasury stock Net income was $20 million in dividends were paid during the three-year period Complete this question by entering your answers in the tabs below. Reg 1 Retired Reg 1 Treasury Stock Reg 2 Prepare the entry for each of the transactions given in the requirement above required for a transaction/eventselect "No joumal entry required in the first ac View transaction list 1 Record the purchase of 480,000 shares at $9 per share on February 15, 2021 that are accounted for as treasury Stock 15, 202 Record the purchase of 480,000 shares at $6.50 per Share on February 17, 2022 that are accounted for as treasury stock 3 Record the sale of 335,000 shares at $8 per share (assure FIFO cost on November 9, 2023 cre February 15, 2021 February 17, 2022 November 9, 2023 Reacquired 480,000 shares at $9 per share. Reacquired 480,000 shares at $6.50 per share. Sold 335,000 shares at $8 per share (assume F 2. Prepare the shareholders' equity section of National Supply's balance retired and (b) accounted for as treasury stock. Net income was $20 milli dividends were paid during the three-year period Complete this question by entering your answers in the tabs below Req i Retired Reg 1 Treasury Stock Req 2 Prepare the shareholders equity section of National Supply's balance sheet ay retired and (b) accounted for as treasury stock. Net income was $20 mill in 2023. No dividends were paid during the three-year period (Enter your an Retirement Treasury stock Shareholders' Equity Paid-in capital Common stock Paid-in capital - excess of par Paid-in capital - share repurchase Retained eamings Add: Treasury stock Total shareholders equity $ 0 0 Req 1 Treasury Stock